iGate has announced its Q4 revenues at USD 81 million versus USD 52.4 million and its net profit USD 51.8 milion versus USD 28.6 million came in It posted a gross margin of 42.7% and 19% of operating margin. The company saw a volume growth of 2.1% and price growth of 1 4.8% last quarter.
In an exclusive interview with CNBC-TV18, Phaneesh Murthy, CEO and Sujit Sircar, CFO, IGATE Global, speak about the results and give their outlook going forward. Phaneesh Murthy said he does not see a budget flush this year. Murthy added that the company had incurred USD 3.2 million as acquisition related expenditure this quarter. The company, he said, has seen a lot of margin improvement from the last quarter. Earlier this month, iGate acquired Indian IT player Patni computers in a USD 1.22 billion deal. Below is a verbatim transcript of their interview with CNBC-TV18's Udayan Mukherjee and Sonia Shenoy. Also watch the accompanying videos. Q: Can you take us through the numbers this time around for the quarter? Sircar: We had a revenue of USD 81 million compared to USD 52.4 million in the corresponding quarter in the previous year. Our Q4 net income was USD 14.7 million under GAAP basis and USD 19.9 million, non-GAAP. We have achieved a growth of 42.7% of gross margin and 19% operating margin. Our diluted earnings per share was 25 cents, GAAP and 34 cents, non-GAAP. In terms of full year, our net revenue for the full fiscal year 2010 was USD 280.6 million up 45.3 % compared to the previous year. We achieved 40.2 % gross margins and 19% operating margin. Our GAAP net income was USD 51.8 million up from USD 28.6 million in the previous year and GAAP diluted EPS of 90 cents up from 51 cents in the previous year. A non-GAAP a net income of USD 62.2 million up from USD 34.4 million in the previous year and non-GAAP diluted EPS of 1.08 cents up from 61 cents in the previous year. Our total employee headcount as of December 31 is 8,360 employees. Q: Wanted some internal metrics of the numbers like how much volume growth you have seen and what has happened to your margins in the current quarter? Sircar: We had seen a volume growth this quarter of 2.1%. Our total revenue has gone up by 8.2% quarter-on-quarter. We have had great growth; our diluted EPS has gone up from 25 cents which is an increase of 67% from the corresponding quarter last year. Q: Just heard you said 2% volume growth for the current quarter. What is the sense you are getting for volume growth for calendar yearDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
